Austrian company Syn Trac starts building a tractor assembly plant in Ghioroc - Arad County, a 400-plus million euro investment which will create about 600 jobs; the first tractor is due to roll off the line in October 2023.The company announced its plans on Friday, on the occasion of the launch of the Ghioroc industrial park project that will accommodate several international companies.Patrick Monac, the manager of the consortium of companies that will operate in Ghioroc, told a press conference that the future local plant will have an annual capacity of about 400 tractors that will be delivered mainly to Eastern Europe."This year we will open the Syn Trac tractor factory and next October we want the first tractor to roll off the line. Production in Romania will be focused on all Eastern European countries and the Middle East. This year we will also develop the project for the trailer, hydraulic drives and gearbox factory. There will be over a hundred jobs in the first phase, and in four to five years their number will grow to 600. This will be an investment of over 400 million euros, spanning ten hectares. We already have an order for 1,500 tractors, 40 of which are for Romania," said Patrick Monac.The company will cooperate with the 'Aurel Vlaicu' University of Arad on the training of the students who will work in the automotive field and who will be offered scholarships.Syn Trac owner Stefan Putz said that the tractors that will be assembled in Ghioroc will be able to reach a speed of 110 kilometers per hour and incorporate patented technologies."For 30 years now I've been building machines that can be found all over the world. I am also somewhat of an inventor, and I've found something unique for these tractors. For instance, they don't have the engine at the front, like standard machines do, but under the floor, which allows us to make connections with front and rear mechanisms. In 60 seconds they can switch from farming to communal works, forest clearing or other activities," Stefan Putz said.The Ghioroc industrial park will also accommodate a regional drug warehouse and a cannery.Ghioroc mayor Corneliu Popi-Morodan declared that the local authorities are in talks with other investors, while president of the Arad County Council Iustin Cionca remarked that these projects will turn Ghioroc into a new development pole.
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Imran Vilcassim, Chief Commercial Officer, Digital Platforms at BPC, explores how Romania’s booming digital payments outpace merchant readiness and why mobile POS is emerging as the practical solution. Romania’s digital payments volumes are rising fast, but merchant infrastructure isn’t keeping up. Independent market models estimate total digital payments will reach nearly
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More than half of the elderly people in urban areas in Romania face loneliness, and almost 310,000 of them experience it at a high level, according to a study conducted by the Association Never Alone, Friends of the Elderly, in partnership with Kantar Romania. The study, carried out in August 2025 on a representative sample […]
Square 7, part of retail park investor M Core, officially inaugurated its new Bucharest office last week, marking an important milestone for the company. More than 150 guests joined the event, including partners, collaborators, and team members. M Core is a family of property investment and management companies comprising LCP, Sheet Anchor, Proudreed, and Sheet […]
Real estate developer Hagag Europe Development has expanded its Romanian operations into the energy sector with the acquisition of BTD Distribuție și Furnizare, a local company specializing in natural gas infrastructure, distribution, and supply. The company has opened a new local division - Hagag Energy - and announced plans to invest more than EUR 400 […]
